Heathley adds to its portfolio of medical centres

During the week a number of property acquisitions were announced in the healthcare/medical sector with Heathley Asset Management acquiring $135M across three sites in Queensland. The properties located in Taringa, Murarrie and Hyde Park Queensland will increase Heathley’s total healthcare portfolio to over $650M. The properties are expected to be owned by the Heathley Direct Medical Fund No 2, which is currently raising $30M to fund its growth.

Healthcare properties have been in high demand for their strong tenancies with Barwon’s Healthcare Property Fund also looking to acquire around $22M in medical properties. The properties include the Eastbrooke Medical Centre in Carlton, NSW; Vasse Medical Centre in Busselton WA and the Yanchep Medical Centre currently under construction in Perth WA, increasing the Fund to around $114M in properties. Core Property considers the sector to provide attractive investment characteristics underpinned by an ageing population with increased healthcare requirements and expect demand for such assets to remain strong as a “defensive” asset class.